• Type

    Hotel

  • Fund

    Realized

  • Address

    One Bethesda Metro Center
    Bethesda, MD 20814

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Hyatt Regency Bethesda

Bethesda, MD

Property Overview

In October 1999, Meridian acquired the Bethesda Hyatt, a 381-room Hyatt Regency Hotel, as part of the Bethesda Metro Center acquisition. During its hold period, Meridian completed a major renovation of the hotel common areas, created additional hotel rooms, added a Morton's Steak House and Daily Grill restaurant, and was able to increase the hotel's NOI by approximately 30% and RevPAR by approximately 40%. Meridian orchestrated three separate equity recapitalizations and one debt recapitalization which generated substantial profits over the life of the investment.